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Finance
6 online lending firms call for standards for big conglomerate and large platform entry
Six online investment-linked lending firms that participate in financial institution-linked investments said separate standards are needed as major conglomerates and large financial platforms and institutions prepare to enter the sector. They said conflicts of interest and distorted competition could arise, especially if a powerful group runs both loan comparison and brokerage services and online lending. They also said current caps and approval procedures limit new funding, risking intensified competition for limited resources.
AI & Enterprise
HonestAI signs MOU with Mongolia\'s Nubisoft to supply LendingIntelligence AI solution
HonestAI, a financial AI transformation company, said on Tuesday it has signed a memorandum of understanding with Mongolian financial IT company Nubisoft to supply AI-based credit solutions in Mongolia. HonestAI said it will provide core technology for its loan-focused AI solution, LendingIntelligence. Nubisoft will conduct proof-of-concept work for adoption by local financial institutions and the two companies will pursue joint market entry.
Finance
Banksalad, Sogang University study MyData-based alternative credit scoring
Banksalad is working with Sogang University to analyse the relationship between consumer spending patterns and individual credit risk using MyData, and to develop an alternative credit scoring model based on the findings. The study used about 200,000 card payment records and Banksalad\'s consumption category framework. The company plans to develop the \'Banksalad Score\' with HonestAI and Korea Credit Bureau and pursue commercial use in the financial sector.
